Oil prices jumped sharply on Monday as the war between the US-Israeli alliance and Iran intensified, raising fears of major disruptions to global energy supplies.
Brent crude, the international benchmark, surged above $115 per barrel before closing at $104.31, while US benchmark West Texas Intermediate (WTI) climbed to about $115 per barrel – its highest level since 2022 – and settled at $102.17. The rises were the strongest prices recorded in more than three years.
The surge follows a dramatic rally from Friday, when Brent closed n
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